- Nov 24, 2020
Advocates had hoped finance officials from the world’s wealthiest nations would have done more to help desperately poor nations further struggling during the COVID-19 pandemic, but the virtual meeting left many debt-related issues unresolved.
Advocates for debt relief for the world’s poorest countries are calling on international policymakers to cancel debt payments and expand debt relief for developing nations to bolster health care and protect vulnerable people and workers during the coronavirus pandemic.
On Easter Sunday, Pope Francis issued a call for reduction if not the forgiveness of the debt burdening the balance sheets of the world’s poorest countries so that they can better tackle the COVID-19 pandemic.
Two leading proponents of debt relief for developing countries urged the White House to lead the call for a moratorium on debt payments for poor nations so they can devote funds to fight the COVID-19 pandemic.
Eric LeCompte, executive director of Jubilee USA Network, says when Pope Francis goes against “vulture funds,” and calls for a new economic model, it’s because he has first-hand experience of the financial crisis these institutions caused in his home country, Argentina.
The director of Jubilee USA Network wants the pope’s ecological and economic messages from the Amazon Synod to get more attention.